Notice for my viewership following me for trades / investments.
BTC New High:
Being wrong: https://steemit.com/bitcoin/@crypto-investor/btc-buy-levels-where-to-spot-a-market-turn-around
Being wrong and going long! New breakouts on decent momentum are usually followed up with consistent volume.
Strategy going forward from now:
First wave hits BTC, generally followed by the tier 2 coins, ETH, Ripple, Dash, ect. If the rally really gets going, it hits into the tier 3 coins, speculative small cap coins. Tier 4 is the junk coin rally of things like Reddcoin, Bitcoinplus, and PEPE CASH... these cycle, though so who knows what it will be next time tier 4 rallies.
BTC is up already, and I would rather own tier 2 stuff anyway, so putting funds to work as follows:
Own small amounts of coins like NAV Coin. NAV is just going to tank as BTC rallies, it has to hit into a 3rd tier wave in the market to really rally. Because of the NAV charting, I do not expect NAV to outperform something like BTC, ETH, or DASH in this phase of the market.
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It's great to see when folks point out where they made mistakes. Also, good on you to not accept payments on this post. I don't think you need to do that, because this post is just as valuable and upvote worthy as all your rest. Reconsider opening this up for payment! Thanks, Ted!
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Just a channel notice.
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I had a very similar view thinking that the "all is fine and it's business as usual pertaining to the HF" was already priced into the market. I expected to see a correction to test the true bottom.
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I think is a mini bubble secondary to low levels of liquidity in exchanges. Since a lot of people took out Bitcoin in order to receive their BCC, the amount of money on the exchanges is relatively low. Thus people are retrading and pumping low levels of coins. Since holders already had their BTC in their wallets the speculator are gonna bring back their Bitcoins and unless the press coverage of the price all time high and the fork attracts new "investors" the price will go down slowly.
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Problem is ertwro, is that I always think like you. Something goes up huge, it should have more of a pull back. Maybe it does eventually, the thing is with crypto, I have to remind myself not to underestimate the up-side. A lot of people day by day keep getting attracted to it, and many don't care where they buy-in at. I'm now in the mega-top scenerio. We hit 4k or 5k before the true top forms. Only alternative is something like a massive head and shoulders that hits like 3,600 with a gradual decline from there.
I'm leaning toward the mega-top now, though. BTC needs to retest 3,000 and hold that now, I think. If it holds that retest, expect a large rally.
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Yeah, Tone Vays (and his magic secret indicators) have a similar theory about testing this support level for a couple weeks, just yesterday he mentioned $3500 as a safe trend. At the moment I have 5% of all my original fiat in Crypto precisely to not miss out, Although at this moment is close to 90% of my net worth.
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Hmm I also thought that it was a bubble but then I watched Clif High's videos - we are nowhere near any saturation point thus we cannot be in a bubble. Brilliantly put. Unless of course the network crashes or goes from bad to worse. He predicted $13000/btc next Feb. You think that's insane?
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these things happen so no worries.
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